Capitol Hill is also a neighborhood in Washington, a big village, split halfway across, half in the NE and half in the SE quadrant of Washington, DC. Politicians work here, but people live here also.
On the south side of this neighborhood is essentially Barracks Row, and the rebirth of the Navy Yard and now the Nationals Park neighborhood. The Navy Yard has very good Metro access, and is also home to a newer iconic landmark, (Washington baseball) Nationals Park.
Locals are happy they will be seeing the 2018 All Star game, which should bring in yet another round of hotel & commercial construction within the next several months, beyond all the cranes currently in operation.
A total of 35 homes were sold in August 2016, and the average for the prior 5 years is 42. This ratio continues to be a little low for buyers. If there were a greater supply, we'd see more sales.
Currently 40 homes are on the market, and the August average for the prior 5 years is 40. This means there are a few less homes on the market than in previous years, and that means a few buyers don't get the home they wanted. More homes on the market means more buyers would benefit.
We find this neighborhood to be at 1.0 Months of Supply. A extremely low supply here as compared to some other neighborhoods and very close to the five year average of 1.1. Is there room to grow here? Perhaps we will see that in the future. Again, if there we more homes, this would become more reasonable.
We continue to see bold sales numbers, such as the $679,900 Sold price in August 2016, while over the prior five years, the average sold price in August was $623,530.
This is a stable market during this time of year as shown with the average home being sold in 11 days which is identical to the 5 year average of 12. This is a hot market that continues moving fast.
The ratio of sold price to original list price is 100%, the average for the prior 5 years was 99.8%, again, a stable market during the winter months and leading into a spring with the expectation of an upward trend with asking prices being met with a corresponding upward trend in sold prices.
This neighborhood remains quintessentially Washington, and is a favorite among people who want to live in Washington,DC. In Redfin 2014 Most Competitive Neighborhoods, there were two sub-neighborhoods in 20003 which made their list. Hill East is the #14th most competitive and Capitol Hill core is itself the 16th most competitive neighborhood.
(data from getsmartcharts; photo from jdland.com, an amazing local blogger resource, with a reference and link to Redfin)
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